Stock Market Continues Record-Breaking Streak

The Dow Jones Industrial Average closed at a record high for the third consecutive time, while the S&P 500 recorded its longest weekly winning streak since November 2017. The stock market has been buoyed by a positive market sentiment following the Federal Reserve's policy meeting and projections on interest rates. The recent drop in 10-year Treasury yields has also contributed to the optimism, with investors pricing in rate cuts by the Federal Reserve in 2024. Small-cap stocks outperformed large-cap equities, and nearly all sectors of the S&P 500 saw gains.